OpenSea NFT Marketplace Introduces NFT Drop Upgrades and Arbitrum Support
OpenSea has expanded its ecosystem by adding support for the Arbitrum blockchain despite the declining volume of NFT transactions. The marketplace stated in a tweet that producers may now establish their own rates for selling Non-fungible tokens (NFTs) on the platform.
The leading NFT marketplace has announced that it will support the collections Diamond Pepes, GMX Blueberry Club, and Smolverse, all of which are now minting on the Arbitrum Blockchain. You can buy tokens from OpenSea with Polygon, Solana, Klaytn, and Ethereum.
Opensea has made a lot of improvements, most notably redesigning the site of the NFT market. The NFT marketplace is the biggest NFT platform by sales volume, with Opensea having settled $32.34 billion in total transactions.
On September 19, the company announced that the marketplace would get new features to make new drops safer, easier, and more immersive. Overall, the platform is attempting to mitigate the negative impacts of the crypto winter, which has reduced the transaction volume of NFTs.
Opensea has incorporated three new features:
- Artists will soon have the option to showcase their collections on the Opensea website with devoted drop pages and increased discoverability.
- Collectors may now mint straight from an Opensea page.
- Drops on Opensea will also have accessibility to Seadrop, a new, safe, open-source contract that drives the drop's experience. It will eliminate the need for authors to construct custom smart contracts.
At the moment, OpenSea works with the Polygon, Ethereum, and Solana blockchains to facilitate the creation and trading of NFTs. To get access to the rest of the Arbitrum ecosystem, you'll need to start with Arbitrum One, a permissionless rollup of Ethereum's layer 2 that allows smart contracts on the Ethereum network.
The launch date for Opensea's support of Arbitrum was set for September 21. After the site went live, creators had to name their collections on Opensea and set their own fees for each transaction. Let's see what this upgrade will do in the end.